FCA Now Requires Financial Crime Reports From Crypto Firms

UK Regulator Plans to Make Money Laundering Data Sharing Mandatory for Firms

The United Kingdom’s Financial Conduct Authority’s (FCA) new policy requires all cryptocurrency firms to submit financial crime reports. The FCA disclosed the new policy in a statement issued on its website. The regulator increased the number of firms required to submit an annual financial crime report known as “REP-CRIM” from 2,500 to about 7,000. More […]

Read More…

Indian Crypto Exchanges Seek Ways To Address Regulatory Issues

Cryptocurrency exchanges in India have decided to come together to address and provide solutions to the regulatory issues surrounding cryptocurrency in the country. Crypto Leaders To Meet With Finance Minister According to the Economic Times, Indian crypto exchanges are planning to jointly reach out to top decision-makers like the Finance Minister and the Reserve Bank of […]

Read More…

Report: India Mulling Banning IP Addresses of Crypto Exchanges

Speculations are growing that the government may consider blocking internet protocol (IP) addresses of crypto-facing businesses and firms operating in the country.  This step was originally taken against adult sites and Chinese apps like TikTok. Cryptocurrency exchanges are about to receive the same treatment as the government cracks down on crypto use. The Indian government […]

Read More…

Nigeria’s Apex Bank Says Crypto Ban Will Protect Banking Sector

A representative of the Governor of the Central Bank of Nigeria (CBN) Governor Godwin Emefiele, has come out to clarify the regulator’s stance on cryptocurrencies in the West African nation. The official said the banks were restricted from providing crypto services, not individuals. Crypto Trading Not Banned In Nigeria The representative named Adamu Lamtek told […]

Read More…

South Korea Clamps Down On Crypto Tax Evaders

South Korean Government Advisory Committee Recommends Bitcoin Derivatives Clearance

South Korea has reiterated its stance in curbing tax evasion in the country following reports that certain individuals were using cryptocurrencies to avoid paying taxes. No less than 2,400 individuals who hid assets in these virtual currencies in a bid to avoid taxation have been identified by the National Tax Service of South Korea (NTS). […]

Read More…

Woes For Traders As India Still Considers Blanket Crypto Ban

Cryptocurrency users in India are getting ready for a rude awakening as the country sets the stage to ban cryptocurrencies. This is according to an anonymous government official, Reuters reports. India Criminalizing Cryptocurrencies The official said the government plans to pass a bill that would criminalize cryptocurrency by making it illegal for anyone to trade, […]

Read More…

Indian Internet Stakeholders Ask Government To Reconsider Crypto Ban

pix-delhi-india.jpg

Following reports that the Indian government is moving towards an outright ban of private crypto ownership in the country, the Internet and Mobile Association of India (IAMAI) has asked the government to reconsider its proposed legislation. IAMAI Calls For ‘Robust’ Crypto Regulation The IAMAI comprises all internet service providers in the Asian nation. The association […]

Read More…

South Korean Regulators To Sanction Errant Exchanges Flouting AML Rules

south korea banks

In a bid to curtail anti-money laundering (AML) and Know Your Customer (KYC) violations, financial regulators in South Korea are introducing penalties to regulate cryptocurrency exchanges or virtual assets service providers (VASPs), as they’re known in the country. This announcement was released by South Korea’s Financial Services Commission (FSC) on Wednesday.  Penalties For Crypto Exchanges […]

Read More…

Miami Secures $4.8B Investment from Dubai Private Equity Group

Miami Mayor Suarez

Dubai-based private equity firm IBC Group wants to help Miami become a crypto-centric city with its recent investment. The private investment firm has pledged a startling $4.8 billion to make Miami’s dream of becoming the go-to destination for companies in the crypto sector a reality. This will see them part with an equivalent value of […]

Read More…